Thank you from Newmarket!

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As 2023 is fast coming to a close, the election is now a distant memory, and the mornings and nights are warmer… it’s always good to reflect on the year that was. Newmarket experienced the usual highs and lows – on the high side, we had our best trading year in history for the financial year to 30 June. But it’s fair to say the winter months were pretty bumpy.  Many households have been tightening their belts a little as the cost of living, and mortgages rate hikes, start to bite. We started the year with some rather challenging weather events, which were a kick in the guts after the roller coaster we had last year.  Back in February we launched our very own security force, Newmarket Security. The team have been very well received but it’s fair to say are kept very busy due to the high levels of retail crime and anti-social behaviour that we have been experiencing – in Newmarket, around Auckland and the rest of New Zealand. We have invested significant amounts in technology tools including CCTV upgrades, body cameras, radios, software solutions and a car. We really are quickly closing in on crime. 

We have seen a strong pick up in retail leasing, especially on Broadway. At the peak of Broadway’s vacancies during covid, it was just over 36%, however now we’re getting back down to 10%, with a number of new leases in negotiations, so in the first half of next year, we’ll be back below 10% once again. We have a number of significant commercial and residential developments in the pipeline, with some already going through the consenting process, so we very much look forward to sharing more about this with you in the very near future. We saw some new and some iconic brands deciding to call Newmarket home, and there are many more coming in the months ahead. We skipped the Italian Festival this year but it will be back in November next year.

It has been a busy year, and like many of you, the Newmarket Business Association (NBA) is looking forward to some down time as we close the door on 2023.

As always, we thank you for your ongoing support, and for taking the time to read our NEWMARKET. Magazine and our weekly emails, and also for following us on our social media platforms @newmarketnz.

On behalf of our Newmarket businesses, the NBA Board and the Team (who hit it out of the park day after day -  including of course the legendary Newmarket Security guys), we are all grateful when you choose to shop, eat, exercise, work and play in Newmarket.  

Wishing you and your loved ones a safe and very Happy Christmas, and a simply superb summer.  Take care on the roads, and in the water. And remember if you overdo it on the Christmas treats, we have plenty of gyms to get you back on track in January!

Here’s to a healthy and happy 2024. 

Mark Knoff-Thomas